I was revisiting the bankruptcy of Sears the other night and how it was basically an act of Vulture Capitalism with the same hedge fund that drove K-Mart into the ground in 2002, buying and then looting Sears.
The point being I was pondering the concept of Vulture Capitalism, in which a group gains ownership of what is nominally a public company and then loots the wealth accumulated by the company for their own use.
How much does the climate movement parallel an act of Vulture Capitalism? These jokers have grabbed control of the levers of state and now use them to vote themselves massive subsidies from the public, while restructuring economies so that necessary public goods become volatile and expensive creating a perfect environment for the profiting of speculators. Of course, all such profits ultimately are looted from the pockets of consumers.
First thought is, this is the USA, who actually rules? This one example makes a mockery of the claim to be a type of democracy - that it is not the rule of law legislated by elected representatives of the people and enforced by the judiciary.
Alongside that is the reality that across the world, a false premise is presented to the public whose attention is directed away from reconsidering it and are duped into suffering major changes in their private lives and the market place to their detriment.
I accept the truth "ALL weather is normal, if you think otherwise you have not looked far enough back in history" Inigo Jones (the Einstein of long term weather forecasters)
I know that carbon dioxide does not control the climate of the earth.
I know fossil fuels built modern civilisation.
I hope that Trump, who is not fooled by the climate conspiracy, can redirect the power of governance to modify the rule of crony capitalism without using the woke socialist memes.
It is pretty remarkable that over the years and within the “business case” for climate action context, there was little pondering about the legality of what was going on. 🤷🏽♀️
Blackrock, Vanguard and State Street have floors full of attorneys between them. There was plenty of legal pondering. After said pondering, the consensus conclusion was basically, “murky, but no less so than other similar practices in which climate plays no factor, so let someone make an issue of it, we’ll defend it, the “climate” of public opinion is with us!”
Great piece, Jessica. If I recall correctly a similar analysis lies at the heart of one of the chapters of Fadi Lama's book 'Why the West Can't Win: From Bretton Woods to a Multipolar World'. In that chapter he asks the question 'who are the decision makers of economic policy in Western 'liberal democracies'?' and uses the mid-2010s roll-out of various ESG policies as a case study. Unsurprisingly the usual suspects Blackrock, State Street, etc. come up.
I was revisiting the bankruptcy of Sears the other night and how it was basically an act of Vulture Capitalism with the same hedge fund that drove K-Mart into the ground in 2002, buying and then looting Sears.
The point being I was pondering the concept of Vulture Capitalism, in which a group gains ownership of what is nominally a public company and then loots the wealth accumulated by the company for their own use.
How much does the climate movement parallel an act of Vulture Capitalism? These jokers have grabbed control of the levers of state and now use them to vote themselves massive subsidies from the public, while restructuring economies so that necessary public goods become volatile and expensive creating a perfect environment for the profiting of speculators. Of course, all such profits ultimately are looted from the pockets of consumers.
Plural of "attorney general" is "attorneys general."
fixed!
I am confounded by the complexity.
First thought is, this is the USA, who actually rules? This one example makes a mockery of the claim to be a type of democracy - that it is not the rule of law legislated by elected representatives of the people and enforced by the judiciary.
Alongside that is the reality that across the world, a false premise is presented to the public whose attention is directed away from reconsidering it and are duped into suffering major changes in their private lives and the market place to their detriment.
I accept the truth "ALL weather is normal, if you think otherwise you have not looked far enough back in history" Inigo Jones (the Einstein of long term weather forecasters)
I know that carbon dioxide does not control the climate of the earth.
I know fossil fuels built modern civilisation.
I hope that Trump, who is not fooled by the climate conspiracy, can redirect the power of governance to modify the rule of crony capitalism without using the woke socialist memes.
This couldn't be a clearer example of a violation of the Sherman act
"Sherman Antitrust Act of 1890 is a federal statute which prohibits activities that restrict interstate commerce and competition in the marketplace."
What were they thinking?
It is pretty remarkable that over the years and within the “business case” for climate action context, there was little pondering about the legality of what was going on. 🤷🏽♀️
Blackrock, Vanguard and State Street have floors full of attorneys between them. There was plenty of legal pondering. After said pondering, the consensus conclusion was basically, “murky, but no less so than other similar practices in which climate plays no factor, so let someone make an issue of it, we’ll defend it, the “climate” of public opinion is with us!”
Juris Dunning Kruger Syndrome.
Great post, Doc.
I am opposed to antitrust law. However, since it is on the books, using it against the climate fools is a sensible move.
Great piece, Jessica. If I recall correctly a similar analysis lies at the heart of one of the chapters of Fadi Lama's book 'Why the West Can't Win: From Bretton Woods to a Multipolar World'. In that chapter he asks the question 'who are the decision makers of economic policy in Western 'liberal democracies'?' and uses the mid-2010s roll-out of various ESG policies as a case study. Unsurprisingly the usual suspects Blackrock, State Street, etc. come up.